Boston Financial Mangement LLC Raises Stock Position in AbbVie Inc. (NYSE:ABBV)

Boston Financial Mangement LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 32,997 shares of the company’s stock after acquiring an additional 1,389 shares during the quarter. Boston Financial Mangement LLC’s holdings in AbbVie were worth $5,864,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC increased its position in AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after acquiring an additional 4,471,806 shares during the last quarter. State Street Corp grew its holdings in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after purchasing an additional 781,858 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. Finally, Saturna Capital Corp boosted its position in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.5 %

Shares of AbbVie stock opened at $197.30 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $348.66 billion, a P/E ratio of 82.21, a PEG ratio of 1.53 and a beta of 0.58. The firm’s 50 day moving average price is $179.67 and its 200-day moving average price is $186.11. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the business earned $2.79 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Morgan Stanley upped their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.